RE: PICKED UP I just happened to be crunching some fresh numbers this morning for some drillers I hold or follow. One of those I just did was SES and I concluded even with the pullback it is too expensive compared to others. Can you explain to me how you conclude it is "CHEAP".
The ttm PE is 136, the CY2005 PE is estimated to be 60 and the forward FY2006 is 14.7. Since they have shown disappointment previously by failing to meet expectations, I would suggest that the estimates could prove optimsitic. In comparison WLL.UN has 12.6, 9.3 & 7.5 respectively (now that is cheap). I bought SES between $3.25 & $3.48 (when it was cheap)and sold all at $6.10 (when it was very expensive). IMO there is a lot of expectation from the new high profile management already built into the price. You might hold it based on that management team but certainly not because it is cheap at the current price. Cheers!!!